My friend Andy Kessler has a great post up on the NY Times site laying out some guiding principles of being a successful hedge fund manager. It all revolves around “working hard to stay shallow”:
- Donâ€™t believe in anything.
- Let the world happen and then pass judgment.
- Bias leads to disaster.
- Be emptyheaded and fleet of foot.
- Change your mind often.
- Observe and critique, 24/7.
These principles apply to a lot more things running and a hedge fund, and they’re great stuff.